ValuEngine upgraded shares of Herman Miller (NASDAQ:MLHR) from a hold rating to a buy rating in a research note published on Friday morning.

A number of other research firms have also commented on MLHR. BidaskClub lowered shares of Herman Miller from a buy rating to a hold rating in a research note on Saturday, January 6th. Zacks Investment Research upgraded shares of Herman Miller from a hold rating to a buy rating and set a $44.00 price objective on the stock in a research note on Friday, December 29th. Finally, Raymond James Financial upgraded shares of Herman Miller from a market perform rating to an outperform rating and set a $43.00 price target on the stock in a research report on Tuesday, December 26th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $41.67.

Herman Miller (NASDAQ:MLHR) opened at $39.70 on Friday. Herman Miller has a 12 month low of $28.55 and a 12 month high of $41.85. The company has a current ratio of 1.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a market cap of $2,340.00, a P/E ratio of 19.56 and a beta of 1.34.

Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.57. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The business had revenue of $604.60 million for the quarter, compared to analyst estimates of $603.77 million. During the same quarter last year, the business earned $0.54 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. research analysts expect that Herman Miller will post 2.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Saturday, March 3rd will be given a $0.18 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.72 annualized dividend and a yield of 1.81%. Herman Miller’s dividend payout ratio (DPR) is 35.47%.

In other Herman Miller news, SVP Stephen C. Gane sold 8,781 shares of Herman Miller stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $41.00, for a total value of $360,021.00. Following the transaction, the senior vice president now owns 2,536 shares in the company, valued at $103,976. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David O. Ulrich sold 13,382 shares of Herman Miller stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $32.38, for a total transaction of $433,309.16. Following the completion of the transaction, the director now owns 21,949 shares in the company, valued at approximately $710,708.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,580 shares of company stock worth $2,533,019. 1.91% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Riverhead Capital Management LLC grew its position in Herman Miller by 67.9% in the second quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock worth $112,000 after buying an additional 1,494 shares during the last quarter. BerganKDV Wealth Management LLC acquired a new position in Herman Miller in the fourth quarter worth approximately $213,000. Ifrah Financial Services Inc. acquired a new position in Herman Miller in the fourth quarter worth approximately $224,000. Neuberger Berman Group LLC acquired a new position in Herman Miller in the third quarter worth approximately $211,000. Finally, UMB Bank N A MO acquired a new position in Herman Miller in the fourth quarter worth approximately $239,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

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About Herman Miller

Herman Miller, Inc is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company’s segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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